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DOJ announces major new initiative targeting redlining; DOJ/CFPB/OCC settle redlining lawsuit against Mississippi-based national bank

CFPB Monitor

Attorneys’ Offices “as force multipliers to ensure that fair lending enforcement is informed by local expertise on housing markets and the credit needs of local communities of color.”. It currently operates 22 branches in the Memphis metropolitan area. DOJ intends to use U.S.

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Jim Reber: March sanity

Independent Banker

What this has to do with community bank investment management may not be readily apparent. Belly of the curve matters to community banks. More often, the two operate independently. First, the average duration of a community bank bond portfolio is more than four years right now. In fact, the tone is about to improve.

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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Last year, community bank loan producers were faced with both record-low interest rates and a glut of deposits. But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. Bunnell; and Doug, Genelle and Jagger Jones.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

The analyst community balked at longer-term questions about the company’s liquidity even though 2019 was the company’s sixth straight year of triple-digit revenue growth with over 177,000 cars delivered and just shy of $4 billion in revenue. Oklahoma City, and Memphis. billion, on an 82 percent increase in retail sales. Ontario (L.A.),

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Board succession planning after a merger

Independent Banker

We spoke with legal and financial experts about what questions community bank leaders should ask themselves pre-merger, what issues they may face and how they can build an even stronger financial institution. When one community bank acquires or merges with another bank, there are many steps to take and considerations to discuss.

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Are Robots Last-Mile Delivery’s Future?

PYMNTS

According to the announcement, the company plans to experiment with the bot in markets such as Memphis, Tenn. — “pending final city approvals.”. It was also reported that Snohomish County Executive Dave Somers said, “We are delighted to welcome Amazon Scout into our community.”.

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First Tennessee to Invest $1 Million in Financial Education

American Banker

First Tennessee Bank in Memphis announced Wednesday that it will commit $1 million to Operation Hope’s new HOPE Fund to offer free financial literacy education in low-income communities.